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BankSA Secured Car Loan - Variable Rate

The BankSA Secured Variable Rate Car Loan offers a lower interest rate, where they accept your car as security and the flexibility of extra repayment and a redraw facility.

  • Extra repayments allowed - Make extra repayments each month
  • Redraw facility - gives you access to any extra payments you make
  • Manage your loan on line - Register to track and manage your loan repayments using BankSA Internet Banking
  • Choice of loan terms - 1 to 7 years for variable interest rate loans
  • Borrow between - $3,000 and $80,000
  • Flexible loan repayment options - You can choose whether to make your repayments weekly, fortnightly or monthly, so you can make your repayments along the lines of your pay frequency.
  • New or Used Cars - For used cars the vehicle must be less than 12 years old at loan expiry


BankSA Secured Variable Rate Car Loan Fees

  • Redraw Facility - Redraw fee of $10, the minimum redraw amount is $500.
  • Discharge processing fee -  $150 if you pay off your loan early within the first 12 months of the loan term, or $100 if you pay off the loan after the first 12 months but before the end of your loan term.
  • Loan Administration - If you require documents such as photocopies of the loan title or loan statement, or a copy of a personal cheque, you will be charged between $10 and $16 depending on the type of documents you request.
  • Loan establishment fee - $195.
  • Monthly administration fee - $9.
Standard Rates
Min. Current Rate 12.74% p.a.
Comparison Rate 13.81% p.a.
Loan Details
Provider BankSA
Product Details Variable Rate Car Loan offering a low interest rate, where your car is offered as security, plus the flexibility of extra repayments and a redraw facility
Min. Loan Term 1 years
Max. Loan Term 7 years
Min. Loan Amount $3,000
Max. Loan Amount $80,000
Available as a Car Loan Yes
Car Type New or Used
Fees and Terms
Application Fee $195
Monthly Service Fee $12
Early Repayment Penalty $150
Missed Repayment Penalty $9
Document Release Fee $0
Repayment Options Weekly, Fortnightly or Monthly
Extra Payments Allowed Yes
Redraw Allowed Yes, $10 per withdrawal, Minimum redraw amount: $500
Security Vehicle

What happens when I click "Go to site"?

  • 1

    Clicking Go to site will direct you to the providers web site

  • 2

    Complete the online application on the providers web site

  • 3

    Once approved the provider will issue your new product, delivery times will vary by provider.